MNKD

Pulmatrix Enters Cross License Agreement With MannKind - Quick Facts

(RTTNews) - Pulmatrix (PULM) said it has entered into a cross license with MannKind (MNKD) pursuant to which MannKind will grant Pulmatrix a royalty free, exclusive license to use MannKind's Cricket inhalation device for the inhaled delivery of PUR3100, the company's formulation of dihydroergotamine with iSPERSE, and a royalty free, non-exclusive license to use MannKind's Cricket inhalation device for the inhaled delivery of any dry powder formulation formulated for the treatment or prevention of neurological disease.

As part of the cross-license, Pulmatrix will grant MannKind a royalty free, exclusive license to formulate iSPERSE with clofazimine for inhalation by humans for the treatment or prevention of infection, for the treatment or prevention of nontuberculous mycobacteria lung disease in humans, and with insulin for inhalation by humans for the treatment or prevention of diabetes. The company will also grant MannKind a royalty free, non-exclusive license to formulate iSPERSE for inhalation for the treatment or prevention of endocrine disease and for inhalation for the treatment or prevention of interstitial lung diseases in humans.

MannKind will assume the lease of Bedford, Mass., R&D facility along with all leasehold improvements, laboratory equipment and other related personal property used in the laboratory. MannKind also plans to hire some members of the Pulmatrix R&D staff.

For More Such Health News, visit rttnews.com.

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